Stevens Capital Management LP lifted its stake in shares of Universal Display Corporation (NASDAQ:OLED) by 73.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,093 shares of the semiconductor company’s stock after purchasing an additional 1,727 shares during the quarter. Stevens Capital Management LP’s holdings in Universal Display Corporation were worth $527,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Alps Advisors Inc. raised its stake in shares of Universal Display Corporation by 0.3% during the second quarter. Alps Advisors Inc. now owns 5,776 shares of the semiconductor company’s stock valued at $631,000 after purchasing an additional 15 shares in the last quarter. Stifel Financial Corp increased its stake in Universal Display Corporation by 2.6% in the 2nd quarter. Stifel Financial Corp now owns 3,362 shares of the semiconductor company’s stock worth $370,000 after purchasing an additional 86 shares in the last quarter. Advisor Group Inc. grew its stake in Universal Display Corporation by 5.3% during the 2nd quarter. Advisor Group Inc. now owns 2,649 shares of the semiconductor company’s stock valued at $286,000 after acquiring an additional 134 shares in the last quarter. Blair William & Co. IL grew its stake in Universal Display Corporation by 2.7% during the 2nd quarter. Blair William & Co. IL now owns 5,638 shares of the semiconductor company’s stock valued at $616,000 after acquiring an additional 150 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in Universal Display Corporation by 19.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 2,967 shares of the semiconductor company’s stock valued at $324,000 after acquiring an additional 485 shares in the last quarter. Institutional investors and hedge funds own 64.20% of the company’s stock.
OLED has been the subject of several research reports. Cowen and Company set a $140.00 price target on Universal Display Corporation and gave the company a “buy” rating in a report on Friday, August 4th. Zacks Investment Research upgraded Universal Display Corporation from a “hold” rating to a “strong-buy” rating and set a $168.00 price target for the company in a report on Thursday, November 2nd. Gabelli lowered Universal Display Corporation from a “buy” rating to a “hold” rating and set a $134.00 price target for the company. in a report on Friday, November 3rd. Deutsche Bank AG began coverage on Universal Display Corporation in a report on Wednesday, August 30th. They issued a “buy” rating and a $135.00 target price for the company. Finally, The Goldman Sachs Group, Inc. restated a “buy” rating and issued a $161.00 target price (up from $150.00) on shares of Universal Display Corporation in a report on Monday, September 18th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $143.11.
Universal Display Corporation (NASDAQ:OLED) opened at $181.00 on Friday. Universal Display Corporation has a one year low of $52.10 and a one year high of $182.65. The stock has a market capitalization of $8,510.00, a price-to-earnings ratio of 86.99 and a beta of 1.03.
Universal Display Corporation (NASDAQ:OLED) last released its earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.19. Universal Display Corporation had a return on equity of 16.67% and a net margin of 32.92%. The firm had revenue of $61.70 million for the quarter, compared to analyst estimates of $47.35 million. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. The company’s quarterly revenue was up 104.3% on a year-over-year basis. equities research analysts predict that Universal Display Corporation will post 2.33 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.07%. The ex-dividend date is Thursday, December 14th. Universal Display Corporation’s payout ratio is 5.74%.
In related news, Director Rosemarie B. Greco sold 1,250 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $168.63, for a total transaction of $210,787.50. Following the completion of the transaction, the director now directly owns 12,800 shares in the company, valued at $2,158,464. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Sidney D. Rosenblatt sold 50,240 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $135.02, for a total value of $6,783,404.80. The disclosure for this sale can be found here. Insiders sold 196,974 shares of company stock worth $30,133,174 in the last three months. Insiders own 5.20% of the company’s stock.
About Universal Display Corporation
Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in display and solid-state lighting applications. The Company also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.
Want to see what other hedge funds are holding OLED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Display Corporation (NASDAQ:OLED).
Receive News & Ratings for Universal Display Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Display Corporation and related companies with MarketBeat.com's FREE daily email newsletter.